By: Chris Waltzek, GoldSeek Radio - 5 September, 2019
The nation may be facing a solvency crisis if long-term obligations continue to accumulate.
John Williams finds that up to $80 trillion is required to keep the house-of-cards from imploding.
The system is flooded with $20 trillion in US Treasury debt.
John Williams notes the lack of interest in lower debt levels in Washington. Fed Chairman Alan Greenspan's noted the US could face default if the debts remain at lofty levels. Full Story
Silver is the talk of the town. Silver has finally started showing its true colors. New silver traders and investors were surprised by recent price move. I have seen a lot of zoom and bust in silver since 2001. I have been fascinated by silver due to its uses. Silver is still a poor man’s gold compared to gold. One should invest in silver even at current prices. Silver is still highly undervalued. Full Story
By: Jordan Roy-Byrne CMT, MFTA - 4 September, 2019
In the big picture, this is the time to jump back in. You do want to get in before the sector makes its next break higher and before GDX and GDXJ surpass multi-year resistance.
However, the immediate risk appears to be to the downside.
Gold, Silver and gold stock ETFs all are at multi-year resistance levels. A correction and consolidation is perfectly normal and should be expected here. Full Story
By: Stewart Thomson, Graceland Updates - 3 September, 2019
- The US yield curve inversion suggests the next recession is about 18-24 months away. That recession could mark the start of a long period of stagflation like 1966-1980.
- Please click here now. Double-click to enlarge this long-term bond market chart.
- Some gold analysts have noted the H&S top pattern in play, but it’s important to wait for a trend line break before getting too excited.
- In the intermediate term, negative rates are the mover for all major markets.
- Trump wants the US central bank to “compete” with the ECB and the BOJ, and drive US interest rates lower. Full Story
The distinguishing feature of fiat money systems is that they are licentious – they are created by corrupt politicians so that they can act without restraint by, for example, promising the citizens the Earth in order to improve their chances of being re-elected. The population can pick up the tab later in the form of devalued money that buys them less. The current dollar fiat money system was created by then President Richard Nixon in 1971, hardly an edifying character, and, thinking about it, it was very apt that it was him who created it by getting rid of the gold standard.
It is inherent in fiat money systems that they self-destruct, since they are essentially fraudulent, their modus operandi being to enable politicians to go on endless spending binges, knowing that society at large will foot the bill as a result of their money being devalued. The current fiat money system, which can be dated back to the ending of the gold standard in 1971, is 48 years old and in its death throes. What happens with fiat is that money becomes increasingly worthless at an accelerating rate until it enters the final terminal phase which is a hyperinflationary vortex that results in it becoming utterly worthless – and we are right on the doorstep of that phase now. Full Story
The best performing metal this week was platinum, up 8.86 percent. Platinum had its best week since 2011 as haven demand for gold expands to other precious metals. Gold rose to as much as $1,550 an ounce this week due to the escalated U.S.-China trade war. And silver is catching up. The gold/silver ratio was trading at its lowest level since April 17, which indicates that the silver price is starting to trade more like gold, but still has some room to go higher. Full Story
By: Chris Waltzek, GoldSeek Radio - 3 September, 2019
President Putin continues to add 1000 oz. silver bars to the national currency reserves.
Similarly, will US policymakers rebuild our former 1.6 billion silver ounce strategic military-stockpile before the impending price eruption or pay 5x-10x more?
The ideal panacea includes returning the global reserve currency to a gold-backing.
Ghana recently experienced a financial crisis where 1/3 of the financial institutions closed their doors.
$1.6 billion evaporated - Wikipedia rolled out a webpage outlining the Ghana Banking Crisis.
A legion of top Wall Street money managers/analysts continue to recommend gold. Several top analysts are predicting $2,000+ gold. Full Story
So, rather than becoming aggressive in either direction at this time, I am going to maintain a bit more patience and allow the market to clarify its intentions over the coming months before I am willing to commit to the next 20%+ move. For now, my expectation remains that we will see much lower levels before the last leg of the bull market begins to take us to the 3800-4100 region. Full Story
Northern hemisphere summer is over. It has been a golden summer this year. Silver outperformed gold. Some of you were telling me how I was not hyper bullish on silver. My answer is that, I have been an outright silver bull since I started analyzing precious metals in 2003 and will remain bullish on silver till I am alive. However I been scorned by clients, family and friends over the past few years on silver price as it was not rising. So I toned down my bullish calls on silver. Full Story
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